1980s Essay

The 1980s were a time when people were in their prime and changes were happening all around. Because of the creation of a new economic policy, supply-side economics, in the 1980s, the modern government’s involvement in the economy evolved into a mix between a free market system with government intervention and regulations that still exists today. Before the 1980s, the economic policy known as Keynesianism was the primary policy used by the government. It was created in the 1930s, by a man named John Maynard Keynes, during the Great Depression, which was a time when unemployment skyrocketed, and many people lost their homes, savings, and businesses. The economy needed major help and therefore the creation of Keynesianism, which advocated for active government intervention to stabilize the economy’s problems and help combat unemployment,

Under this program, FDR created many acts and projects meant to assist the economy by improving the banking system and creating programs that were meant to lessen unemployment rates. He created acts like the Emergency Banking Act and the Glass-Steagal Act, allowing inspectors to decide whether or not a bank reopened as well as guaranteeing that citizens wouldn’t lose their deposits even if a bank was in trouble. The banking system was a singular part of the economic failures at that time and FDR need a solution to help with the increasing unemployment. He, therefore, created the Works Progress Administration(WPA) as well as the Public Works Administration(PWA). These two projects employed thousands providing jobs to people with all kinds of talents, whether it was painting murals on federal buildings, creating state tour guide books for tourists, or building major infrastructures, to help support economic activity in areas that previously had had no prospect of